As the crypto community waits for Fed Chair Jerome Powell’s crucial speech on Friday regarding the monetary policy outlook, the broader cryptocurrency market remains relatively calm. However, micro-cap on-chain decentralized exchange (DEX) markets have witnessed significant activity, with some top gainers recording exponential growth.
High Stakes in On-Chain DEX Markets
The on-chain DEX environment is highly volatile. Anyone can issue new coins, leading to hundreds of new coins being introduced daily. Unfortunately, most of these coins are scams, rug pulls, or pump-and-dump schemes. Even for legitimate projects, risks remain high due to low liquidity, where even small trades can cause significant price fluctuations. These unpredictable moves often surprise traders, with coins sometimes surging 10x only to plummet by 90% within hours. As a result, the top crypto gainers are frequently found within these on-chain DEX markets.
Top Crypto Gainers Today
Traders often turn to tools like DEXScreener to identify the top crypto gainers. Below are some trending coins that are currently capturing attention:
FWUG (FWUG)
FWUG, a new meme coin on the Solana blockchain, has surged by 250% over the past 24 hours, according to DEXScreener. With a market cap of $200,000, it still has significant room for growth. However, its liquidity is limited to just $46,000. A small sell order could drastically impact the price. Traders should exercise caution and avoid investing more than they can afford to lose.
Smoking Eagle Dog (SED)
Another meme coin on Solana, Smoking Eagle Dog (SED), has gained nearly 200% in the last 24 hours. This makes it one of today’s top performers. Despite its small market cap of $770,000, the coin has garnered substantial community support, as evidenced by over 3,000 rocket emoji upvotes on DEXScreener.
Chengpang Zhoa (ZHOA)
Chengpang Zhoa (ZHOA), a meme coin on the Binance Smart Chain themed after the former Binance CEO, has also seen a 200% increase in the past day. However, a Go+ Security audit has raised concerns about the smart contract, indicating this coin might be a scam.
Alternatives to High-Risk Gainers
For those wary of the risks associated with these high-flying micro-cap coins, meme coin presales offer a potentially safer investment option. Analysts at Cryptonews.com have compiled a list of promising meme coin presales that may provide a more stable alternative.
The post Top Crypto Gainers Today on DEXScreener – FWUG, SED, ZHOA appeared first on Cryptonews.
